VANCOUVER, BC, Nov. 1, 2024 /CNW/ – LITE ACCESS TECHNOLOGIES INC. (“Lite Access”) (TSXV: LTE) (OTC: LTCCF), a world leader in the fibre optic products and advanced installation methodologies, announces it will extend the maturity date of previously issued convertible debentures in the principal amount of $500,000 (the “Debentures”) from November 22, 2024 to November 22, 2026 (the “New Maturity Date”).  The New Maturity Date has been approved by all of the holders of the Debentures.

The principal amount of the Debentures will continue to bear interest at a rate of 12% per annum and be convertible at a conversion price of $0.10 per share (see news release dated November 22, 2022).  Other than the New Maturity Date, no other terms of the Debentures were amended.

The New Maturity Date is subject to acceptance of the Exchange.

Update on Ironman Transaction

The Company also announces that the Company and Ironman have agreed to further extend the exclusivity period until December 31, 2024, in relation to its proposed acquisition of Ironman and its wholly-owned subsidiary, Ironman Direction Drilling Ltd., an experienced provider of directional drilling (the “Transaction”), which was previously announced in the news release dated May 5, 2023.  Ironman is currently finalizing the audit of its financial statements and the parties intend to enter into the definitive agreement in November 2024.

The completion of the Transaction is subject to a number of key conditions including entry into a definitive agreement between Lite Access and Ironman, completion of due diligence of the parties, shareholder approval, TSX Venture Exchange (the “Exchange”) final approval and other conditions customary for this type of Transaction. The Company will issue a subsequent news release upon entry into a definitive share purchase agreement with Ironman.

About Lite Access

Lite Access Technologies Inc. is a world leader in the use of innovative and proven micro/narrow trenching technologies, alternate methods of deployment and specialist products which transform the cost the network deployment for telecommunications operators.

As part of its suite of services Lite Access provides clients with integrated solutions or select components for the design and implementation of fibre optic networks.  Lite Access’ products have been deployed in many high-profile communication networks including Olympic facilities, military and government, numerous communities throughout the United Kingdom, the USA and Canada as well as global telecommunications companies that have adopted Lite Access as the “solution of choice” for the least invasive, most cost effective and future-proof fibre optic connectivity available.

Lite Access’ installation technology and proprietary products extend a network provider’s ability to deliver true broadband connectivity directly to end-users, such as homes, businesses, government and educational institutions, and emergency response facilities. Lite Access remains flexible and innovative in its commitment to provide global clients and partners with the most cost effective and proven fibre connectivity solutions available.

Forward Looking Information

This news release contains statements that, to the extent they are not recitations of historical fact, may constitute “forward-looking statements” within the meaning of applicable Canadian securities laws. Lite Access uses words such as “may”, “would”, “could”, “will”, “likely”, “expect”, “believe”, “intend” and similar expressions to identify forward-looking statements. Any such forward-looking statements are based on assumptions and analyses made by Lite Access in light of its experience and its perception of historical trends, current conditions and expected future developments. However, whether actual results and developments will conform to Lite Access’ expectations and predictions is subject to any number of risks, assumptions and uncertainties.  Many factors could cause Lite Access’ actual results to differ materially from those expressed or implied by the forward-looking statements contained in this news release. Such factors include, among other things: risks and uncertainties described in Lite Access’s most recent Management Discussion & Analysis (MD&A) for the financial year ended September 30, 2023 which can be accessed at www.sedarplus.com. The “forward-looking statements” contained herein speak only as of the date of this press release and, unless required by applicable law, Lite Access undertakes no obligation to publicly update or revise such information, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Lite Access Technologies Inc.

APTA advocacy leads to impactful policy wins that will reduce administrative burden, improve access, and provide more flexibility to the therapy workforce.

ALEXANDRIA, Va., Nov. 1, 2024 /PRNewswire/ — Reducing administrative burdens, ensuring patient access in rural and underserved areas, and providing flexibilities for a challenged therapy workforce have long been policy priorities for the American Physical Therapy Association. Now, with the recent release of the Centers for Medicare & Centers for Medicaid Services 2025 Medicare Physician Fee Schedule Final Rule, some of these priorities are being adopted to better support physical therapists and physical therapist assistants and their role in improving the health of Medicare beneficiaries.

The 2025 fee schedule contains two significant policy wins for the physical therapy profession advocated for by APTA, in the areas of PTA supervision and plan of care certification.

Supervision of Physical Therapist Assistants: The supervision requirement for physical therapist assistants under Medicare Part B will change from the current outdated direct supervision requirement to general supervision. This change will finally align outpatient settings with the general supervision policies in place in all other Medicare settings. What’s more, 49 states already permit general supervision of PTAs under state licensure laws, meaning Medicare’s direct supervision requirement in the outpatient setting was more burdensome than most state licensure requirements. This change will provide more flexibility for the therapy workforce and ensure access to therapy services for millions of Medicare beneficiaries, especially in rural or underserved areas, where beneficiaries are 50% more likely to receive therapy from a PTA. The language in the final rule mirrors the APTA-backed legislation introduced in the 118th Congress, titled the EMPOWER Act, that would require CMS to make this long-advocated for change.

Therapy Plan of Care Certification Requirement Reform: An exemption is being provided to the current burdensome plan of care signature requirement for outpatient therapy services provided under referral from a physician. Under current CMS policy, physical therapists are required to send their plans of care to the referring physician, who has 30 days to sign off on the services that the referring physician ordered in the first place. If the 30-day deadline is approaching and the physician still hasn’t returned the signed plan of care, it has been up to the physical therapist to obtain that signature. Without it, the PT is faced with not being paid by Medicare or stopping patient treatment, which can result in interruptions in care. Under the new exemption, the plan of care certification signature requirement will be deemed satisfied if the physical therapist simply submits the plan of care to the patient’s referring physician within 30 days of the initial evaluation; PTs no longer need to obtain the physician’s signature. This change comes after APTA advocacy during the CMS comment period and mirrors the APTA-backed legislation introduced in Congress, titled the REDUCE Act.

“After years of advocacy, APTA is pleased that CMS has finally responded to our recommendations to improve patient access to essential therapist services and ease administrative burden at a time when physical therapy practices are struggling, given the year-over-year cuts to the fee schedule,” said APTA President Roger Herr, PT, MPA. “The change in supervision requirements enables PTAs to practice at the top of their license, acknowledging their crucial role in patient care and support to therapy clinics. Reducing unnecessary administrative plan of care requirements allows PTs to focus on patient care instead of paperwork. These two policy changes in the 2025 Medicare Physician Fee Schedule are critical to supporting physical therapists and physical therapist assistants.”

The 2025 rule also finalized a reduction to the fee schedule’s conversion factor. As in previous years, the budget-neutral policy has led to another cut to the conversion factor that impacts all providers paid under the physician fee schedule, including physical therapists. Unless Congress intervenes — which it has done several times in past years — the 2025 conversion factor will be $32.3562, a 2.83% decrease from 2024.

It is now up to Congress to stop the impending 2.83% cut from being implemented in January 2025. In a bipartisan effort to address this, APTA-supported legislation, the Medicare Patient Access and Practice Stabilization Act, was introduced in the U.S. House on Oct. 29. If enacted, it would provide a 4.73% payment boost to the 2025 Medicare Physician Fee Schedule’s conversion factor.

“The continued reduction to payment for therapy services under the fee schedule underscores the need to overhaul Medicare’s Physician Fee Schedule, and APTA will keep up the fight to advocate for full-scale reform,” Herr added. 

The American Physical Therapy Association represents more than 100,000 physical therapists, physical therapist assistants, and physical therapy students nationwide. Visit apta.org to learn more.

View original content:https://www.prnewswire.com/news-releases/2025-medicare-physician-fee-schedule-final-rule-includes-two-major-wins-for-therapy-providers-302294523.html

SOURCE American Physical Therapy Association

NEW YORK, Nov. 1, 2024 /PRNewswire/ — Report with market evolution powered by AI – The global fitness app market  size is estimated to grow by USD 55.86 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  17.78%  during the forecast period. Empowering health management amid rising incidence of chronic diseases is driving market growth, with a trend towards innovative coaching platform approach with integrated video workout features. However, failing in user engagement and retention  poses a challenge.Key market players include Adidas AG, Alphabet Inc., Apple Inc., ASICS Corp., Azumio Inc., BetterMe Ltd., Diverse Retails Pvt. Ltd., Fiit Ltd., Fitness Connection, Fooducate Ltd., Garmin Ltd., Jefit Inc., MINDBODY Inc., Nike Inc., PEAR Sports LLC, Polar Electro Oy, Samsung Electronics Co. Ltd., Squats Fitness Pvt. Ltd., Under Armour Inc., Wahoo Fitness LLC, WellDoc Inc., and YAZIO GmbH.

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The fitness app market is witnessing an emerging trend with the integration of innovative coaching platforms. These platforms offer integrated video workouts and video-on-demand (VOD) features, providing users with more interactive and personalized fitness experiences. Major companies are responding to this shift by developing advanced coaching platforms to gain a competitive edge. An online coaching platform facilitates easier communication between clients and coaches during sessions. The growth of these coaching platforms is expected to significantly contribute to the expansion of the global fitness app market during the forecast period.

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•         The global fitness app market faces substantial challenges in maintaining user engagement and retention. While initial downloads keeping users over the long term proves more challenging due to intense competition. Providing fresh content, such as new workout routines and motivational incentives, is essential to prevent user churn. A seamless user experience and prompt issue resolution are crucial for retaining trust and loyalty. Adapting to emerging trends, like wearable device integration, virtual coaching, and personalized nutrition plans, is also vital for staying relevant and innovative. Neglecting user engagement and retention can hinder the growth of the fitness app market during the forecast period.

•         In the dynamic world of health and wellness, fitness apps have emerged as a game-changer, attracting millions of mobile subscribers. These apps offer in-app fitness solutions, including virtual training and personalized fitness plans, catering to the needs of smartphone users. In-home fitness equipment and wearable technology integration further enhance the user experience. However, maintaining the highest retention rates remains a challenge. Machine learning and artificial intelligence are employed to provide nutrition guidance, monitor diet, and track workouts and activity levels. Regulatory frameworks ensure health and hygiene standards. Future Fitness apps offer advanced features like calorie tracking, workout routines, and mental well-being education. Personal training, once a luxury, is now accessible through online platforms with personalized diet charts and fitness plans, reducing personal training fees. Smart devices, including laptops, tablets, smartphones, and smartwatches, are integral to this market. The fusion of technology and fitness awareness is revolutionizing the industry, transforming conventional fitness studios and gyms into virtual spaces.

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This fitness app market report extensively covers market segmentation by

Gender 1.1 Female1.2 MaleApplication 2.1 Lifestyle monitoring2.2 Health monitoring2.3 OthersGeography 3.1 North America3.2 APAC3.3 Europe3.4 South America3.5 Middle East and Africa

Fitness apps have revolutionized the way we approach health and wellness, offering convenient and flexible solutions for individuals seeking to improve their fitness levels and prioritize mental well-being. With the rise of virtual fitness, in-app workouts, and online training, conventional studios and gyms have had to adapt to remain competitive. Subscriptions to fitness apps grant users access to a wealth of resources, including activity tracking, personal training, and diet charts. These apps cater to smartphone users, laptops, tablets, and even smart devices, making fitness accessible from anywhere. As awareness of fitness continues to grow, regulatory frameworks ensure the safety and effectiveness of these apps. Health Works Collective is an example of a platform that offers mental well-being, health, and hygiene resources alongside fitness training. Overall, fitness apps provide a comprehensive solution for individuals seeking to prioritize their health and wellness in today’s fast-paced world.

Fitness apps have revolutionized the way we approach health and wellness, offering advanced features like activity tracking, calorie counting, and diet chart monitoring to help users stay on top of their fitness goals. These apps go beyond just tracking workouts, with in-app fitness classes, personalized fitness plans, and virtual coaching sessions available to subscribers. Artificial intelligence and machine learning technology provide personalized recommendations based on individual fitness levels and goals. Mental well-being is also prioritized, with features that promote mindfulness and stress reduction. Smart devices like smartphones, tablets, smartwatches, and fitness trackers integrate seamlessly with these apps, allowing users to monitor their progress and stay motivated. Online platforms offer virtual fitness classes, personal training, and nutrition guidance, making fitness more accessible than ever before. With the highest retention rates, fitness apps are the future of health and wellness, providing convenience, affordability, and a comprehensive approach to fitness and nutrition. Regulatory frameworks ensure user safety and privacy, while gyms, fitness studios, and conventional workout routines continue to coexist with these innovative offerings.

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

GenderFemaleMaleApplicationLifestyle MonitoringHealth MonitoringOthersGeographyNorth AmericaAPACEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Technavio Research
Jesse Maida
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Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio